By Mahmoud Ali
In a step towards further enhancing British- Egyptian cooperation in the energy field, especially after the discovery of massive gas fields in the Mediterranean, a UK delegation of energy experts visited Cairo from February 23 to March 1. This visit comes with the aim of discussing with potential joint cooperation in energy with Egypt’s authorities, particularly in searching and drilling for gas.
The delegation includes 8 of the world’s most popular and widely operating UK oil and gas companies.
The British Embassy in Cairo said that this visit contributes in boosting Egyptian-British trade partnership. In addition, the visit is a further evidence of the strong cooperation in all fields, mostly energy, in which Egypt has proven successful after discovering several new fields in its Mediterranean waters.
In a special statement to MEO, British Ambassador in Cairo, John Casson, said that the visit aims to enhance UK’s investments expansion carried out by its energy companies in Egypt. Casson also said that the importance of such visit lies in Egypt’s need for efforts to advance with the new energy discoveries -expected to support progress of the Egyptian economy.
Ambassador Casson said that the visit was economically fruitful. An Egyptian-UK solar power company was established, with 49 per cent of its shares belonging to British companies. He added that the delegation managed to agree on a joint partnership in areas of urban and construction plannings.
He also stated that the delegation discussed, during the visit, potential Egyptian-UK cooperation in Auto-motive manufacturing, using more Egyptian materials in the process -with a 90 per cent increase compared to 65 per cent. Materials are expected to be provided by local markets, as well as exports from neighboring markets.
Egyptian collabourations with foreign countries in energy is mostly focused on Italy, there are plenty Italian firms engaged in gas drilling on Egyptian soils. On top of them is Eni, which discovered “Zohr” -the largest known gas field in the Mediterranean- located on the Egyptian coast.
Yet, UK directed its diplomatic efforts convincing Cairo to deepen their cooperation in the gas field. This was clear though the delegation visit, which was preceded by a massive economic delegation to Cairo by the beginning of February, to discuss enhancing UK investments in Cairo and revive joint economic relations.
In a statement to the UK Embassy, cited by MEO, the head of the delegation said: ‘’Following recent field discoveries and a more stable government, Egypt has emerged as a new key market and target for leading British oil and gas companies. The eight companies visiting Egypt offer a range of technologies to help operators develop their assets in energy sectors. That’s why we look forward to a fruitful visit and imperative meetings with key state representatives in Cairo and Alexandria.”
